Mike Hopkins Salary At Washington
Mike Hopkins is the CEO and President of Washington since May 2019. Before joining Washington, he held a high position with Nike as the Vice President of Global Marketing.
The American multinational corporation has been paying him an annual salary of $2 million. He also earns from his other sources like stock awards, bonuses, incentives etc. In addition to this, he receives a compensation package worth $4 million annually which includes stocks worth $4 million in total along with other benefits and incentives.
He joined Washington in May 2019 after being selected by the board as the successor to Kevin Plank who resigned from his post due to health issues.
Mike Hopkins Salary At Washington
Earlier Thursday, Washington announced that their men’s basketball head coach, Mike Hopkins, signed an extension to his contract that would see him stay at Montlake through the 2024-2025 season. Details were released later Thursday that revealed the fine print.
Starting this coming season, Hopkins will earn $2.5 million per the details of the extension. The following season he will receiving a $300,000 raise. That number bumps up to $2.9 million for the 2021-2022 season and will increase in $100,000 increments until the contract expires on March 31, 2025, or whenever Washington’s season ends.
Built in to the contract is a clause that allows Washington to extend Hopkins one additional year if UW wins or shares the Pac-12 conference regular season championship, or qualifies for the NCAA Tournament. That extra year would also include another $100,000 increase.
Hopkins’ buyout clauses have also been updated. If Hopkins left Washington before the end of the 2021 season, it would be $6 million, which is six times his current buyout. After that the buyout is cut in half after every year.111COMMENTS
Because the buyout has also increased, a clause has also been included that cuts those buyouts in half if Jen Cohen leaves UW or is no longer employed by the school.
The salary increase for Hopkins will put Washington in the top half when it comes to the highest-paid basketball coaches in the Pac-12.
